Slow projects face license revocation on Phu Quoc

Slow or stalled projects on the southern island of Phu Quoc, one of Vietnam’s premier beach getaways, will have their licenses revoked for transfer to new investors, said provincial authorities Monday.

The Kien Giang People’s Committee issued the statement at a meeting on the island seeking solutions to the slow implementation of Phu Quoc projects Monday.

Only five out of 39 projects mandated in Decision 178, a master plan for developing the island issued by the central government in 2004, have been completed to date.

Slow ground clearance and compensation were holding up project development, said representatives at the meeting, adding that administrative reforms had not met investors’ expectations.

Several investors had not broken ground on land they received several years ago, representatives said.

Provincial leaders said Phu Quoc authorities should identify key projects to be given priority in ground clearance.

Decision 178 had aimed to have a bulk of the 39 projects completed by 2010.

 Chi Nhan

thanhnien

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